A deal does not fix the housing market; it only makes things worse by permanently entrenching all this systemic fraud into the U.S. legal system. It throws away the states’ right to compensation at a time when they still don’t have the slightest idea of the total extent of Wall Street fraud.

An amount of liquidity equivalent to roughly ¼ of the entire global economy has been pumped into Wall Street to prevent the banksters’ fraud-saturated bubbles from deflating. To refer to this as a “post-bubble economy” is like referring to the nation of Japan as being “post-Fukushima” the day after the first meltdown.

While we wait for our interest rates (and eventually our housing markets) to return to sanity, the obvious step for future-buyers to take today is to buy silver – to reduce the price they ultimately pay for a house to a small fraction of current prices… The more general point which I do wish to argue here is the necessity to look for new ways to express prices which are not dependent on/connected to the worthless paper currencies of Western bankers.

The “extra capital” which (some) U.S. banks will be forced to implement over a period of seven years under the new “Basel II” accord would all be 100% consumed (plus much more) if U.S. housing prices fall even 1% more

Bloomberg had managed to find an anecdotal account of a U.S. homeowner who had actually shortened the term of their mortgage… but in the real world, for every U.S. homeowner shortening the length of their mortgage there are ten other mortgage-holders (twenty? one hundred?) increasing the length of their mortgage. Indeed the favorite “mortgage modification” being offered by the banksters to homeowners on the verge of foreclosure is to dupe them into refinancing over a longer term.

Now, as the U.S. economy is quite obviously turning lower again, Americans are finally shedding their “rose-coloured glasses” and beginning to view the U.S. economic nightmare for what it really is. That conclusion is strongly reinforced by the following statistics…

In terms of the “unemployment rate”, the numbers are unequivocal: the percentage of employable Americans who are without jobs continues to go up every month – due to the combined effect of the still extremely high weekly lay-offs, plus the fact that the number of “new jobs” doesn’t come close to even matching the growth in population.

We’ve already been through this charade in the U.S. housing market. Again we were told by countless media talking-heads and “experts” (on countless occasions) that the U.S. housing market had “bottomed” in 2009. These shills even had the audacity to claim there was a “recovery” taking place in the U.S. housing market – as opposed to merely a “dead-cat bounce” after the worst real estate crash in the history of the U.S. economy. Returning to the real world, we have now seen U.S. housing prices plunge through that supposed “bottom”, meaning that even the propagandists have been forced to abandon their lie about a “recovery” in this sector of the economy.